Big Bear Real Estate Market July 2020

Big Bear Real Estate Market Stats for the month of July 2020

Market Wide Summary

We saw unprecedented market activity in Big Bear in July. Inventory dropped to historic lows and bidding wars were commonplace. The number of total sales of single family homes was up 41% compared to the prior month. The average sales price increased by 17% compared to the previous month, and the median sales price was up 15%. Average sales price over Jan-Jul was 16% higher compared to 2019 over the same period. 

List Price vs. Sale Price and Days on Market

Properties sold in July went for 99% of the asking price after 102 days on market on average, compared to 98% and 100 DOM in June. The list-to-sell price ratio was also 98% on average over Jan-Jul 2020; same as it was over Jan-Jul 2019.

Big Bear Inventory Trends

Total inventory* was down 27% month over month, and there were just 4 more new new listings in July than in June. The total number of homes on the market last month was about 57% lower than it was in July of last year. As of this writing, the active inventory is at just 178!  *Total listed inventory numbers as of the 15th of each month.

Closed Transactions

There were 189 sales in July, 55 more than the previous month. There were 80% more sales in July 2020 compared to July 2019. The total number of sales Jan-Jul was 5% higher compared to sales Jan-Jul 2019. *Data derived from Big Bear Association of REALTORS®, Inc. (BBV) MLS. Information herein deemed reliable but not guaranteed.